Page 17 - GEOGRptJun19

lira crisis.
Georgia’s GDP growth was estimated at 4.9% y/y for January-September 2018 by the country’s statistics office, while it improved to 5.1% y/y for January-October. But the monthly GDP estimates are volatile, and are subject to deep revisions. On a broader perspective, growth rates of around 5% as seen in 2017 and 2018 have not yet resulted in visible improvements in the standard of living in Georgia.
4.0 Real Economy 4.1 Industrial production
Industrial production accelerates 7% y/y in 4Q18
Georgia’s industrial production increased 7% y/y in the fourth quarter of 2018, expanding from a 3.5% y/y in the previous quarter, according to the National Statistics Office of Georgia.
Production expanded faster for both manufacturing (6.4%% in 4Q18 from 0.4% in 3Q) and water supply sewerage, waste management and remediation activities (8.7% in 4Q18 from 5.1% in 3Q. Meanwhile, electricity, gas, steam and air conditioning supply output rose at a slower rate (11% in 4Q18 from 14.4% in 3Q). Conversely, output for mining and quarrying shrank (-3.5% in 4Q18 from 5.2% in 3Q).
Industrial production y/y in Georgia averaged 13.0% from 2000 to 2018.
17 GEORGIA Country Report June 2019 www.intellinews.com